Impact

Million

<ul>
 <li>XRP buy volume surges 235% as wallets holding 1M-10M XRP tokens accumulate 662.4M coins, marking a 10.4% rise in August.</li>  
 <li>XRP rebounds to pre-crash levels, trading at $0.5703, despite a 4.31% drop in 24 hours, fueled by whale accumulation.</li>  
 <li>Social dominance of XRP hits a 7-month high, reflecting increased community interest and engagement following a favorable legal ruling.</li> 
</ul>  
<p>XRP has witnessed a notable increase in buy volume, surging over 235% within the last 24 hours. This surge coincides with <a href="https://cryptonewsland.com/xrp-surges-as-whales-boost-holdings-post-regulatory-victory/" rel="noopener noreferrer nofollow">increased activity among large holders</a>, particularly wallets containing between 1 million and 10 million XRP tokens.&nbsp;</p>  
<p>These wallets have collectively accumulated 662.4 million additional tokens in August, marking a substantial 10.4% rise. This accumulation indicates a big buying trend among large holders, often referred to as whales and sharks.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/RippleXrpie/status/1822554343393894421
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</figure>  
<h2 class="wp-block-heading" id="h-price-recovery-and-whale-activity"><strong>Price Recovery and Whale Activity</strong></h2>  
<p>The recent activity among large holders aligns with a strong recovery in XRP’s price. The cryptocurrency’s value has rebounded to pre-crash levels last seen in July. At press time, XRP was trading at <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">$0.5703</a>, down by 4.31% in the last 24 hours but up 8.86% over the last week.&nbsp;</p>  
<p>The price fluctuation reflects a low of $0.494291 and a high of $0.63883, with a closing price of $0.63127. The market cap of XRP stands at $32 billion, representing a 4.31% decrease, while the 24-hour trading volume has dropped by 8.95% to $1.05 billion.</p>  
<h2 class="wp-block-heading" id="h-rising-social-dominance-and-community-engagement"><strong>Rising Social Dominance and Community Engagement</strong></h2>  
<p>XRP’s social dominance has also seen an uptick, reaching its highest level since January 30th. This increase suggests growing interest and engagement within the XRP community. Analysts at <a href="https://santiment.net/" target="_blank" rel="noopener noreferrer nofollow">Santiment</a> reported a 23% increase in XRP’s market cap, with wallets holding 1 million to 10 million XRP now collectively owning a record 7.06 billion coins, valued at $4.42 billion.</p>  
<figure class="wp-block-image"><img src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXc4yBPapAXz1W7MIwaeT5_xnRlGvhNPOag8a8Jk00dPjqKmQN_OBFeR6_qc6UGlF7ssKelN1R8OwZnCV6eS4N4qv4ECO8Yu6wwvwCARRp5YCUPVPVdqwjFaWdDiENxDfjce32pmHnsQZf4DngJ5oPodSKA?key=HRByLQgbHVD-u7dzfeDjBw" alt="">
</figure>  
<h2 class="wp-block-heading" id="h-impact-of-recent-legal-ruling"><strong>Impact of Recent Legal Ruling</strong></h2>  
<p>This surge in XRP activity follows a key legal ruling by Judge Analisa Torres, who dismissed the U.S. Securities and Exchange Commission’s (SEC) claims of reckless conduct and fraud against Ripple.&nbsp;</p>  
<p>The judge also <a href="https://cryptonewsland.com/xrp-16-ath-as-ripple-concludes-sec-battle/" rel="noopener noreferrer nofollow">rejected the SEC’s demand</a> for a $2 billion fine, instead imposing a $125 million penalty related to specific historical sales to sophisticated investors. This ruling marks the conclusion of a prolonged legal battle that has affected Ripple and its native cryptocurrency for several years. The decision has sparked renewed speculation about XRP’s future trajectory, with some analysts predicting a potential breakout.</p> 
<p>The post <a href="https://cryptonewsland.com/xrp-whales-drive-235-volume-surge/" rel="noopener noreferrer nofollow">XRP Whales Drive 235% Volume Surge as Accumulation Hits 662 Million Tokens, Price Rebounds</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

XRP Whales Drive 235% Volume Surge as Accumulation Hits 662 Million Tokens, Price Rebounds

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